Mezzanine debt is subordinate no more After a dip in mezzanine fundraising in 2017, credit managers are hoping limited partner demand for the strategy is strong in 2018 with almost 200 funds in market. Senior debt and distressed debt have been the favoured investment choices for limited partners recently, but those strategies may be fading…
Owning up to Europe’s distressed opportunity Under increasing pressure, banks are starting to offload troubled assets – with Italy leading the way. Like a small child who keeps a broken toy in a clenched fist to hide it from a parent, many European banks have been reluctant to own up to the true value of…
Real estate debt: a blossoming American tradition Investment opportunities for the sector in the US appear to remain strong. Real estate debt fundraising by region – where a firm plans to deploy capital rather than where the vehicle’s investors are – has fluctuated over the past four years, but one constant has been the rise…
Emerging markets are on the rise for private debt Much of the activity has been in India, one market source told PDI, where distressed debt has been attractive as a result of new bankruptcy rules. Private debt targeting emerging markets has been trending upward in recent years, and 2018’s total may be poised to surpass…
A private debt fundraising hangover The steep decrease in H1 2018 may just be a function of the incredible amount of capital alternative lenders collected last year. Private debt managers are seeking the least amount of capital six months into the year since 2015, a fact that could be reflective of the broader fundraising market…
LPs going on the defensive Senior debt continues to be popular even as many investors have fleshed out their private credit exposure via their handful of favourite direct lenders. The proportion of senior debt capital raised in the first six months of 2018 hit a four-year high, according to PDI data, signifying a greater willingness…
US-based managers dominate fundraising Many of the behemoth alternative asset managers are based in America and have raised some of the largest funds this year. For all that’s said about the rise of private debt in Europe and Asia, managers headquartered in the US ruled fundraising in the first six months of the year, according…
Private debt keeps it global Managers with the capability to deploy capital around the globe are rounding up more capital than those focused on a specific geographic area. Private debt has had global ambitions in 2018; multi-regional funds locked down the plurality of capital so far this year, with credit managers raising $30.37 billion for…
What goes up… 2017 was one heck of a fundraising year that saw stratospheric amounts of capital raised. 2018 will be a regular one. PDI private credit fundraising numbers for the first six months of the year fell by nearly half compared to the same time last year, plummeting from $111.96 billion to $59.81 billion,…
Distressed Europe Overall fundraising for private debt in Europe has taken a plunge in 2018, but distressed strategies are bucking the trend. With only just less than $11 billion raised for private debt investment in Europe so far this year (at the time of publication), fundraising activity in the region is a far cry from…